Finder Energy Holdings has advised that the Farmin Agreement with joint venture partner TIMOR GAP PSC 11-106 Unipessoal, Limitada (TIMOR GAP) has now completed following receipt of all necessary regulatory and third-party approvals.
Completion of this agreement sees TIMOR GAP increase its participating interest in PSC 19-11 from 24% to 34%, reinforcing the strong partnership between Finder and the National Oil Company of Timor-Leste.
Under the terms of the agreement, TIMOR GAP will contribute 50% of the development capex for the KTJ Project up to a gross cap of US$338 million as well as immediate funding support to facilitate acceleration of FID.
Finder retains a 66% participating interest and operatorship of PSC 19-11, enabling the Company to continue to successfully implement the acceleration strategy to FID.
The farmin significantly de-risks the project, provides funding certainty for development and strengthens our partnership with TIMOR GAP.
Recent positive developments, including the farmin, have created strong momentum as we enter into a period of intense activity driving the Company toward FID by mid-2026.
Source: Finder Energy
